Ashwood retail strip with development upside listed

A scheme for a mixed-use development for two retail shops on the ground floor and seven apartments over two levels has been designed by Damian Orlando Design

Ashwood retail strip with development upside listed
Ashwood retail strip with development upside listed

Teska Carson is marketing a superbly located retail strip investment with outstanding development prospects at Ashwood in Melbourne’s eastern suburbs.

Located at 481-483 Warrigal Road, on the corner of Douglas Street, within the heart of the Ashwood shopping strip, the property comprises two single level commercial properties in good condition with a total building area of circa 250 square metres.

Ashwood retail strip with development upside listed

The 408 square metre, Commercial 1 zoned property has two titles and two street frontages totalling over 40 metres as well as laneway access from the rear and on-site parking.

The Commercial 1 zoning allows for office, business, entertainment, community and residential uses as well as retail. A scheme for a mixed-use development for two retail shops on the ground floor and seven apartments over two levels has been designed by Damian Orlando Design.

According to marketing agents, Teska Carson’s George Takis and Larry Takis, the property will be sold subject to two leases at a combined annual rental of $55,377.

George Takis said the well maintained property offered a prime investment opportunity with development upside and short term lease income, as well as owner-occupier potential, in one of Melbourne’s most tightly held village strips.

Larry Takis said the first rate public transport amenities with Ashburton, Homesglen, Alamein & Jordanville train stations in close proximity added further to the property’s growth prospects.

The property will be auctioned on Friday, May 7 at 12pm on site.

Jordan Fidler

Jordan Fidler

Jordan is a journalist at Urban.com.au

Tags: 
Ashwood Development Sale Retail Strip

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